Innovative Designs Inc (OTCMKTS:IVDN) Stock Rockets 150% in a Month: What’s The Buzz?
Innovative Designs Inc (OTCMKTS:IVDN) stock continues to trade in a narrow range over the past few trading sessions. The stock has soared 150% over the past month.
Market Action
In the previous trading session, IVDN went up 1% to $0.38. A total of 40K shares traded for the session hands, compared to its average volume of 20k shares. The stock opened at $0.3280 and moved in a range of $0.3280 – 0.3800.
Key Trigger
Innovative Designs Adds Canadian Apparel Agency
Innovative Designs Inc has entered into a sales agreement with Canadian-based Junior Trend to represent its Insultex® insulation in Canada, Europe, China, and many selected accounts in the United States. They have begun introducing Insultex® to some of Canada’s & Europe’s best coat companies, to use in their fall 2022 collections.
Steve Shein, President of Junior Trend, commented, “I have been in the coat business for over 30 years. I owned the largest domestic coat manufacturer in Canada. My experience in outerwear brand building has been highly successful and my coat manufacturing experience is extensive. The unique technology used in Insultex® shall revolutionize how designers manufacture coats, as one millimeter of thickness shall create the same warmth as a luxury down coat at a fraction of the price. This animal free product is biodegradable & breathable, exactly what the sustainable world is asking for. Imagine a hoodie as warm as a luxury down coat? The possibilities are limitless. I expect to see exponential growth in Insultex sales for the outerwear market.”
Key Quote:
Joseph Riccelli, CEO of Innovative Designs, commented, “We are excited to join forces with one of North America’s leading sales agencies. Since signing into this agreement in mid-August, Mr. Shein’s agency has introduced Insultex® to some of the finest clothing manufacturers that exist. These companies have begun developing samples of their 2022 clothing lines using our Insultex®.”
